Tax Cut Propels Auto Sales in China
Posted on Nov 11, 2015 in Industry News | Comments Off on Tax Cut Propels Auto Sales in China
Sales of passenger vehicles have surged to a ten-month high in China following the cut of a car-purchasing tax. Following a summer slowdown, auto sales climbed 13 percent in October to 1.94 million vehicles. The rebound, coming ten months after the elimination of the tax benefiting auto manufacturers, also follows the trend of increased consumer spending in China. Total vehicle sales may increase 3 percent this year, with increased demand for cheaper sport utility vehicles observed.
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